Northwest Natural Holding Co

While the long-term uptrend remains intact, the medium-term structure is clearly bearish in Stage 4 decline, with rallies failing at declining EMAs. An active Lockout Rally driven by short covering shows short-term buying pressure but has not held above key moving averages. Given the tradable side is bearish, deferred sell engagement is advisable on rallies into the 9/21/50 EMA zone.

• ↑Q1 2026 adjusted EPS $2.33 (+2.2% YoY), reaffirming full-year guidance
• ↑Sea Energy segment saw 16% organic customer growth; Texas market set to grow 15–20% annually through 2030
• ↓Weak growth and profitability factors signal potential limitations in expansion and margins